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Former Suriname President Chandrikapersad Santokhi Passed AwayIn March 2026, former President of Suriname Chandrikapersad “Chan” Santokhi, a prominent leader of the Indian diaspora, passed away at the age of 67.He served as the President of Suriname from 2020 to 2025, a period marked by significant economic reforms and a deepening of ties with India.About Chandrikapersad Santokhi:Honour: He was honoured with the Pravasi Bharatiya Samman, (the Highest Indian award for Overseas Indian or institutions, instituted by the Ministry of External Affairs, MEA), on 9 January 2021 during the Pravasi Bharatiya Divas.Significance: Became the first Surinamese President to take oath in Sanskrit, symbolising strong cultural links with India and highlighting the role of the Indian diaspora.
Former Suriname President Chandrikapersad Santokhi Passed AwayIn March 2026, former President of Suriname Chandrikapersad “Chan” Santokhi, a prominent leader of the Indian diaspora, passed away at the age of 67.He served as the President of Suriname from 2020 to 2025, a period marked by significant economic reforms and a deepening of ties with India.About Chandrikapersad Santokhi:Honour: He was honoured with the Pravasi Bharatiya Samman, (the Highest Indian award for Overseas Indian or institutions, instituted by the Ministry of External Affairs, MEA), on 9 January 2021 during the Pravasi Bharatiya Divas.Significance: Became the first Surinamese President to take oath in Sanskrit, symbolising strong cultural links with India and highlighting the role of the Indian diaspora.
Former Suriname President Chandrikapersad Santokhi Passed AwayIn March 2026, former President of Suriname Chandrikapersad “Chan” Santokhi, a prominent leader of the Indian diaspora, passed away at the age of 67.He served as the President of Suriname ...
GRSE Kolkata Delivered Three Frontline Warships, Dunagiri, Sanshodhak and Agray to IN In March 2026,Garden Reach Shipbuilders and Engineers Ltd (GRSE), Indian Defence Public Sector Unit (PSU) delivered three frontline platforms: advanced guided missile frigate ‘Dunagiri’, the survey vessel ‘Sanshodhak’, and anti-submarine warfare shallow watercraft ‘Agray’, to the Indian Navy (IN).These deliveries marked a major milestone for indigenous defence manufacturing, enhancing the IN’s capabilities in strike, survey, and anti-submarine warfare.Key Details: Dunagiri(Yard 3023): It is the second Nilgiri-Class stealth frigate built under Project 17A after Indian Naval Ship (INS) Nilgiri.INS Sanshodhak (Yard 3028): It is the 4th and last Survey Vessel Large (SVL), bolsters INs hydrographic and survey capabilities.Agray– ASW-SWC: Launched on March 13, 2024, it is the fourth of eight ASW SWC, and is designed for coastal defence operations.
GRSE Kolkata Delivered Three Frontline Warships, Dunagiri, Sanshodhak and Agray to IN In March 2026,Garden Reach Shipbuilders and Engineers Ltd (GRSE), Indian Defence Public Sector Unit (PSU) delivered three frontline platforms: advanced guided missile frigate ‘Dunagiri’, the survey vessel ‘Sanshodhak’, and anti-submarine warfare shallow watercraft ‘Agray’, to the Indian Navy (IN).These deliveries marked a major milestone for indigenous defence manufacturing, enhancing the IN’s capabilities in strike, survey, and anti-submarine warfare.Key Details: Dunagiri(Yard 3023): It is the second Nilgiri-Class stealth frigate built under Project 17A after Indian Naval Ship (INS) Nilgiri.INS Sanshodhak (Yard 3028): It is the 4th and last Survey Vessel Large (SVL), bolsters INs hydrographic and survey capabilities.Agray– ASW-SWC: Launched on March 13, 2024, it is the fourth of eight ASW SWC, and is designed for coastal defence operations.
GRSE Kolkata Delivered Three Frontline Warships, Dunagiri, Sanshodhak and Agray to IN In March 2026,Garden Reach Shipbuilders and Engineers Ltd (GRSE), Indian Defence Public Sector Unit (PSU) delivered three frontline platforms: advanced guided mis...
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RBI Imposes Rs 31.80 Lakh Penalty on Airtel Payments Bank In March 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited for non-compliance with regulatory directions related to Disclosure in Financial Statements for the Financial Year 2024-25 (FY25).RBI Penalty Action:Legal Basis: The penalty was imposed by RBI under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.Inspection: RBI conducted the Statutory Inspection for Supervisory Evaluation (ISE 2025) based on the bank’s financial position as of March 31, 2025.Violation: The penalty was imposed after confirming non-compliance with RBI directions based on supervisory findings.Clarification: The action pertains only to regulatory compliance deficiencies and does not affect the validity of customer transactions or agreements.
RBI Imposes Rs 31.80 Lakh Penalty on Airtel Payments Bank In March 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited for non-compliance with regulatory directions related to Disclosure in Financial Statements for the Financial Year 2024-25 (FY25).RBI Penalty Action:Legal Basis: The penalty was imposed by RBI under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.Inspection: RBI conducted the Statutory Inspection for Supervisory Evaluation (ISE 2025) based on the bank’s financial position as of March 31, 2025.Violation: The penalty was imposed after confirming non-compliance with RBI directions based on supervisory findings.Clarification: The action pertains only to regulatory compliance deficiencies and does not affect the validity of customer transactions or agreements.
RBI Imposes Rs 31.80 Lakh Penalty on Airtel Payments Bank In March 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited for non-compliance with regulatory directions related to Disclosure i...
IRDAI Mandates India’s Insurers to Adopt Ind AS from April 01, 2026In March 2026, the Insurance Regulatory Development Authority of India (IRDAI) mandated insurers to prepare and present financial statements in accordance with applicable Indian Accounting Standards (Ind AS) effective from April 01, 2026.The decision was taken during the IRDAI’s 135th meeting, which has approved the Insurance Regulatory and Development Authority of India (IRDAI) (Actuarial, Finance, and Investment Functions of Insurers) (Amendment) Regulations, 2026.The decision was taken during the IRDAI’s 135th meeting, which has approved the Insurance Regulatory and Development Authority of India (IRDAI) (Actuarial, Finance, and Investment Functions of Insurers) (Amendment) Regulations, 2026.Key Details:Applicability: IRDAI has clarified that the implementation of Ind AS will apply to all categories of insurers which include life, general, stand alone health insurers and reinsurers.Reporting Time Period: IRDAI approved new regulations providing parallel reporting for a period of 2 years, or such period as may be specified by authority, covering financial statements prepared in accordance with Ind AS alongside financial information under the existing accounting framework.
IRDAI Mandates India’s Insurers to Adopt Ind AS from April 01, 2026In March 2026, the Insurance Regulatory Development Authority of India (IRDAI) mandated insurers to prepare and present financial statements in accordance with applicable Indian Accounting Standards (Ind AS) effective from April 01, 2026.The decision was taken during the IRDAI’s 135th meeting, which has approved the Insurance Regulatory and Development Authority of India (IRDAI) (Actuarial, Finance, and Investment Functions of Insurers) (Amendment) Regulations, 2026.The decision was taken during the IRDAI’s 135th meeting, which has approved the Insurance Regulatory and Development Authority of India (IRDAI) (Actuarial, Finance, and Investment Functions of Insurers) (Amendment) Regulations, 2026.Key Details:Applicability: IRDAI has clarified that the implementation of Ind AS will apply to all categories of insurers which include life, general, stand alone health insurers and reinsurers.Reporting Time Period: IRDAI approved new regulations providing parallel reporting for a period of 2 years, or such period as may be specified by authority, covering financial statements prepared in accordance with Ind AS alongside financial information under the existing accounting framework.
IRDAI Mandates India’s Insurers to Adopt Ind AS from April 01, 2026In March 2026, the Insurance Regulatory Development Authority of India (IRDAI) mandated insurers to prepare and present financial statements in accordance with applicable Indian Accou...
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RBI Extends Implementation of Revised CME framework to July 01, 2026In March 2026, the Reserve Bank of India (RBI) extended the implementation of its revised Capital Market Exposure (CME) framework by another 3 months to July 01, 2026 (originally scheduled for April 01, 2026).In February 2026, RBI issued the final Amendment Directions on CME, aimed to provide an enabling framework for banks to finance acquisitions by Indian corporates; rationalize the limits for lending by banks to individuals against shares, units of REITs, InvITs, among others, and introduce a principle-based framework for lending to Capital Market Intermediaries (CMIs).Other Key Changes:Modified Definition of Acquisition Finance:RBI has also modified the definition of acquisition finance which now includes the mergers and amalgamations. RBI has further clarified that acquisition finance may be extended only to acquiring control over non-financial target companies.Loans Against Securities: As per RBI directions, the new rules will now apply limits on loans against eligible securities across the banking system, restricting them at Rs 1 crore per individual and Rs 25 lakh for Initial Public Offering (IPO)-related loans, Follow-on-Public Offer (FPOs) and Employee Stock Ownership Plan (ESOP) subscriptions.
RBI Extends Implementation of Revised CME framework to July 01, 2026In March 2026, the Reserve Bank of India (RBI) extended the implementation of its revised Capital Market Exposure (CME) framework by another 3 months to July 01, 2026 (originally scheduled for April 01, 2026).In February 2026, RBI issued the final Amendment Directions on CME, aimed to provide an enabling framework for banks to finance acquisitions by Indian corporates; rationalize the limits for lending by banks to individuals against shares, units of REITs, InvITs, among others, and introduce a principle-based framework for lending to Capital Market Intermediaries (CMIs).Other Key Changes:Modified Definition of Acquisition Finance:RBI has also modified the definition of acquisition finance which now includes the mergers and amalgamations. RBI has further clarified that acquisition finance may be extended only to acquiring control over non-financial target companies.Loans Against Securities: As per RBI directions, the new rules will now apply limits on loans against eligible securities across the banking system, restricting them at Rs 1 crore per individual and Rs 25 lakh for Initial Public Offering (IPO)-related loans, Follow-on-Public Offer (FPOs) and Employee Stock Ownership Plan (ESOP) subscriptions.
RBI Extends Implementation of Revised CME framework to July 01, 2026In March 2026, the Reserve Bank of India (RBI) extended the implementation of its revised Capital Market Exposure (CME) framework by another 3 months to July 01, 2026 (originally sch...
MoF Keeps Interest Rates on Small Savings Schemes Unchanged for Q1FY27In March 2026, In March 2026, the Department of Economic Affairs (DEA-Budget Division) under the Ministry of Finance (MoF) retained interest rates unchanged across all Small Savings Schemes (SSS) for the 1st Quarter of Financial Year 2026–27 (Q1FY27), i.e., from April 1, 2026 to June 30, 2026, as per the rates notified for Q4FY26.Overview of Post Office Savings Schemes:SSY: Sukanya Samriddhi Yojana (SSY) offers 8.2% interest, allows a guardian to open an account for a girl child below 10, with Rs. 250–Rs. 1,50,000 yearly deposits, Section 80C benefits, and Exempt-Exempt-Exempt (EEE) tax status (tax free).PPF: Public Provident Fund (PPF) provides 7.1% interest with a Rs. 1.5 lakh annual limit, 15-year lock-in, and tax-free maturity under Section 80C.SCSS: Senior Citizen Savings Scheme (SCSS) yields 8.2% interest, is designed for retirees, and ensures regular income with high safety.NSC: National Savings Certificate (NSC) offers 7.7% interest with a 5-year lock-in, where reinvested interest qualifies for Section 80C deduction.KVP: Kisan Vikas Patra (KVP) provides 7.5% interest, doubles investment in 115 months, and has no maximum deposit limit.
MoF Keeps Interest Rates on Small Savings Schemes Unchanged for Q1FY27In March 2026, In March 2026, the Department of Economic Affairs (DEA-Budget Division) under the Ministry of Finance (MoF) retained interest rates unchanged across all Small Savings Schemes (SSS) for the 1st Quarter of Financial Year 2026–27 (Q1FY27), i.e., from April 1, 2026 to June 30, 2026, as per the rates notified for Q4FY26.Overview of Post Office Savings Schemes:SSY: Sukanya Samriddhi Yojana (SSY) offers 8.2% interest, allows a guardian to open an account for a girl child below 10, with Rs. 250–Rs. 1,50,000 yearly deposits, Section 80C benefits, and Exempt-Exempt-Exempt (EEE) tax status (tax free).PPF: Public Provident Fund (PPF) provides 7.1% interest with a Rs. 1.5 lakh annual limit, 15-year lock-in, and tax-free maturity under Section 80C.SCSS: Senior Citizen Savings Scheme (SCSS) yields 8.2% interest, is designed for retirees, and ensures regular income with high safety.NSC: National Savings Certificate (NSC) offers 7.7% interest with a 5-year lock-in, where reinvested interest qualifies for Section 80C deduction.KVP: Kisan Vikas Patra (KVP) provides 7.5% interest, doubles investment in 115 months, and has no maximum deposit limit.
MoF Keeps Interest Rates on Small Savings Schemes Unchanged for Q1FY27In March 2026, In March 2026, the Department of Economic Affairs (DEA-Budget Division) under the Ministry of Finance (MoF) retained interest rates unchanged across all Small Saving...
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Government Extends PM KUSUM Project Deadline to March 2027In March 2026, the Ministry of New and Renewable Energy (MNRE) extended the timeline for commissioning certain projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) scheme, providing relief to developers and state agencies.Key Highlights:Eligibility: The extension applies to projects where Power Purchase Agreements (PPAs) or Letters of Intent (LoIs) were signed or issued on or before December 31, 2025.Revised Timeline: The commissioning deadline has been extended to March 31, 2027.Scheme Target: The scheme aims to add 34,800 MW of solar capacity with central financial assistance of Rs 34,422 crore, originally targeted for completion by March 2026.About PM KUSUM Scheme: The PM-KUSUM, launched in 2019, aims to promote solar energy use in agriculture and reduce dependence on diesel and grid electricity.Under its funding pattern, the Central and State Governments each provide 30% subsidy, while farmers contribute 40% (with provision for bank loans), ensuring affordability and wider participation.
Government Extends PM KUSUM Project Deadline to March 2027In March 2026, the Ministry of New and Renewable Energy (MNRE) extended the timeline for commissioning certain projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) scheme, providing relief to developers and state agencies.Key Highlights:Eligibility: The extension applies to projects where Power Purchase Agreements (PPAs) or Letters of Intent (LoIs) were signed or issued on or before December 31, 2025.Revised Timeline: The commissioning deadline has been extended to March 31, 2027.Scheme Target: The scheme aims to add 34,800 MW of solar capacity with central financial assistance of Rs 34,422 crore, originally targeted for completion by March 2026.About PM KUSUM Scheme: The PM-KUSUM, launched in 2019, aims to promote solar energy use in agriculture and reduce dependence on diesel and grid electricity.Under its funding pattern, the Central and State Governments each provide 30% subsidy, while farmers contribute 40% (with provision for bank loans), ensuring affordability and wider participation.
Government Extends PM KUSUM Project Deadline to March 2027In March 2026, the Ministry of New and Renewable Energy (MNRE) extended the timeline for commissioning certain projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM...
MoD & BEL Sign Rs 1,950 Crore Contract for Mountain Radars for IAFIn March 2026, the Ministry of Defence (MoD) signed a capital acquisition contract worth Rs 1,950 crore with Bharat Electronics Limited (BEL) for the procurement of two Mountain Radar systems for the Indian Air Force (IAF).The contract was signed in New Delhi (Delhi) under the Buy (Indian–Indigenously Designed, Developed and Manufactured, IDDM) category, reinforcing the Aatmanirbhar Bharat and Make in India initiatives.About the Mountain Radar System:Development: It was indigenously designed by Electronics and Radar Development Establishment (LRDE) under the Defence Research and Development Organisation (DRDO) and manufactured by Bharat Electronics Limited (BEL) to boost domestic defence capabilities.Features: Designed for high-altitude terrain to overcome line-of-sight and harsh weather challenges while detecting fighter aircraft, drones, and cruise missiles.Operations: Enhances border surveillance, early warning, situational awareness, and response time within the integrated air defence network.Significance: Strengthens national security, reduces import dependence, promotes indigenous manufacturing, and supports domestic industries and Micro, Small, and Medium Enterprises (MSMEs) with employment and technological advancement.
MoD & BEL Sign Rs 1,950 Crore Contract for Mountain Radars for IAFIn March 2026, the Ministry of Defence (MoD) signed a capital acquisition contract worth Rs 1,950 crore with Bharat Electronics Limited (BEL) for the procurement of two Mountain Radar systems for the Indian Air Force (IAF).The contract was signed in New Delhi (Delhi) under the Buy (Indian–Indigenously Designed, Developed and Manufactured, IDDM) category, reinforcing the Aatmanirbhar Bharat and Make in India initiatives.About the Mountain Radar System:Development: It was indigenously designed by Electronics and Radar Development Establishment (LRDE) under the Defence Research and Development Organisation (DRDO) and manufactured by Bharat Electronics Limited (BEL) to boost domestic defence capabilities.Features: Designed for high-altitude terrain to overcome line-of-sight and harsh weather challenges while detecting fighter aircraft, drones, and cruise missiles.Operations: Enhances border surveillance, early warning, situational awareness, and response time within the integrated air defence network.Significance: Strengthens national security, reduces import dependence, promotes indigenous manufacturing, and supports domestic industries and Micro, Small, and Medium Enterprises (MSMEs) with employment and technological advancement.
MoD & BEL Sign Rs 1,950 Crore Contract for Mountain Radars for IAFIn March 2026, the Ministry of Defence (MoD) signed a capital acquisition contract worth Rs 1,950 crore with Bharat Electronics Limited (BEL) for the procurement of two Mountain Radar ...
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DGCA and Gati Shakti Vishwavidyalaya Signed MoU to Train Youth in AviationIn March 2026, the Directorate General of Civil Aviation (DGCA), Ministry of Civil Aviation (MoCA) signed a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya (GSV), Ministry of Railways (MoR) to enhance skill development in the aviation sector, including Aviation Engineering and Aviation Management.The MoU was signed by Director General (DG) Faiz Ahmed Kidwai, DGCA and Vice Chancellor Professor Manoj Choudhury, GSV, in the presence of Union Minister Kinjarapu Rammohan Naidu, MoCA and Ashwini Vaishnaw, MoR.About MoU between DGCA and GSV:Objective: Develop skilled manpower for the aviation and Maintenance, Repair and Overhaul (MRO) sector while strengthening industry–academia collaboration and bridging key gaps.Program: Launch a 3-year Bachelor of Science (B.Sc.) in Aviation Maintenance Engineering (AME) from August 2026 (2026–27), integrating academic knowledge, DGCA standards, and industry requirements.Curriculum: Align training with Civil Aviation Requirements (CAR)-66 and CAR-147 frameworks while advancing research in Sustainable Aviation Fuels (SAF), aircraft maintenance, parts manufacturing, and capacity building of DGCA officials.Growth: Support Aatmanirbhar Bharat and Viksit Bharat goals amid rapid expansion with over 240 MRO units, ~1700 aircraft orders, a projected fleet of 3000 by 2036, and demand for 10,000–12,000 pilots.
DGCA and Gati Shakti Vishwavidyalaya Signed MoU to Train Youth in AviationIn March 2026, the Directorate General of Civil Aviation (DGCA), Ministry of Civil Aviation (MoCA) signed a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya (GSV), Ministry of Railways (MoR) to enhance skill development in the aviation sector, including Aviation Engineering and Aviation Management.The MoU was signed by Director General (DG) Faiz Ahmed Kidwai, DGCA and Vice Chancellor Professor Manoj Choudhury, GSV, in the presence of Union Minister Kinjarapu Rammohan Naidu, MoCA and Ashwini Vaishnaw, MoR.About MoU between DGCA and GSV:Objective: Develop skilled manpower for the aviation and Maintenance, Repair and Overhaul (MRO) sector while strengthening industry–academia collaboration and bridging key gaps.Program: Launch a 3-year Bachelor of Science (B.Sc.) in Aviation Maintenance Engineering (AME) from August 2026 (2026–27), integrating academic knowledge, DGCA standards, and industry requirements.Curriculum: Align training with Civil Aviation Requirements (CAR)-66 and CAR-147 frameworks while advancing research in Sustainable Aviation Fuels (SAF), aircraft maintenance, parts manufacturing, and capacity building of DGCA officials.Growth: Support Aatmanirbhar Bharat and Viksit Bharat goals amid rapid expansion with over 240 MRO units, ~1700 aircraft orders, a projected fleet of 3000 by 2036, and demand for 10,000–12,000 pilots.
DGCA and Gati Shakti Vishwavidyalaya Signed MoU to Train Youth in AviationIn March 2026, the Directorate General of Civil Aviation (DGCA), Ministry of Civil Aviation (MoCA) signed a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya (...
CCRAS Signs MoU with Anuvadini AI to Translate Ayurveda Research into 13 LanguagesIn March 2026, the Central Council for Research in Ayurvedic Sciences (CCRAS), under the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, Homeopathy), signed a Memorandum of Understanding (MoU) with Anuvadini AI, an Artificial Intelligence (AI) voice-to-voice translation platform, to translate evidence-based Ayurveda research accessible in 13 regional languages, including Hindi.The MoU was signed by Professor Vaidya Rabinarayan Acharya, Director General (DG) of CCRAS, and Dr. Buddha Chandrasekhar, Chief Executive Officer (CEO) of Anuvadini AI.About CCRAS–Anuvadini MoU:Objective: Expand access to evidence-based Ayurveda knowledge, overcome language barriers, and ensure equitable dissemination across India.Technology: Utilize AI-based translation by Anuvadini, developed by the All India Council for Technical Education (AICTE) under Ministry of Education (MoE).Translation: CCRAS, the apex Ayurveda research body with 30 institutes across 25 states, will use AI to translate its research outputs, CCRAS Bulletin, and Information, Education and Communication (IEC) materials into 13 regional languages for wider accessibility.
CCRAS Signs MoU with Anuvadini AI to Translate Ayurveda Research into 13 LanguagesIn March 2026, the Central Council for Research in Ayurvedic Sciences (CCRAS), under the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, Homeopathy), signed a Memorandum of Understanding (MoU) with Anuvadini AI, an Artificial Intelligence (AI) voice-to-voice translation platform, to translate evidence-based Ayurveda research accessible in 13 regional languages, including Hindi.The MoU was signed by Professor Vaidya Rabinarayan Acharya, Director General (DG) of CCRAS, and Dr. Buddha Chandrasekhar, Chief Executive Officer (CEO) of Anuvadini AI.About CCRAS–Anuvadini MoU:Objective: Expand access to evidence-based Ayurveda knowledge, overcome language barriers, and ensure equitable dissemination across India.Technology: Utilize AI-based translation by Anuvadini, developed by the All India Council for Technical Education (AICTE) under Ministry of Education (MoE).Translation: CCRAS, the apex Ayurveda research body with 30 institutes across 25 states, will use AI to translate its research outputs, CCRAS Bulletin, and Information, Education and Communication (IEC) materials into 13 regional languages for wider accessibility.
CCRAS Signs MoU with Anuvadini AI to Translate Ayurveda Research into 13 LanguagesIn March 2026, the Central Council for Research in Ayurvedic Sciences (CCRAS), under the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, Homeopathy), si...
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